PepsiCo (NASDAQ:PEP) Price Target Cut to $160.00 by Analysts at Wells Fargo & Company

PepsiCo (NASDAQ:PEP) had its target price lowered by equities research analysts at Wells Fargo & Company from $165.00 to $160.00 in a research report issued on Monday,MarketScreener reports. Wells Fargo & Company‘s price objective points to a potential upside of 7.30% from the company’s previous close.

PEP has been the topic of several other research reports. Citigroup upped their price target on PepsiCo from $170.00 to $182.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Rothschild & Co Redburn lifted their price objective on PepsiCo from $130.00 to $132.00 in a research note on Monday, May 11th. Barclays increased their target price on PepsiCo from $154.00 to $158.00 and gave the stock an “equal weight” rating in a research note on Monday, April 20th. Wall Street Zen downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Finally, Evercore upped their price target on shares of PepsiCo from $165.00 to $170.00 in a research note on Friday, April 17th. Eight research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $170.11.

PepsiCo Price Performance

PEP opened at $149.12 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.72 and a debt-to-equity ratio of 1.98. The company has a market cap of $203.81 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 2.73 and a beta of 0.38. The stock has a fifty day simple moving average of $155.25 and a two-hundred day simple moving average of $152.41. PepsiCo has a 12-month low of $127.60 and a 12-month high of $171.48.

PepsiCo (NASDAQ:PEP) last released its earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.06. The firm had revenue of $19.44 billion for the quarter, compared to the consensus estimate of $18.89 billion. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. During the same period in the prior year, the firm earned $1.48 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. Research analysts predict that PepsiCo will post 8.63 earnings per share for the current fiscal year.

PepsiCo declared that its board has authorized a share buyback program on Tuesday, February 3rd that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the company to repurchase up to 4.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Evergreen Advisors LLC bought a new stake in PepsiCo during the first quarter valued at about $25,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of PepsiCo in the fourth quarter worth about $26,000. Swiss RE Ltd. purchased a new stake in shares of PepsiCo during the fourth quarter worth about $28,000. JCIC Asset Management Inc. bought a new stake in PepsiCo during the 3rd quarter valued at approximately $27,000. Finally, MH & Associates Securities Management Corp ADV purchased a new position in PepsiCo in the 4th quarter worth approximately $29,000. Institutional investors own 73.07% of the company’s stock.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.